Ashland Global (NYSE:ASH) had its target price upped by Wells Fargo & Co from $85.00 to $90.00 in a report released on Thursday morning, The Fly reports. The firm currently has an overweight rating on the basic materials company’s stock.
A number of other brokerages have also weighed in on ASH. SunTrust Banks raised their target price on Ashland Global from $75.00 to $87.00 and gave the company a buy rating in a research note on Monday, July 20th. TheStreet upgraded Ashland Global from a d+ rating to a c- rating in a report on Thursday, June 18th. Credit Suisse Group reiterated a buy rating and issued a $91.00 price target on shares of Ashland Global in a report on Tuesday, July 28th. UBS Group raised their price target on Ashland Global from $71.00 to $78.00 and gave the company a buy rating in a report on Thursday, July 9th. Finally, Deutsche Bank raised their price target on Ashland Global from $85.00 to $90.00 and gave the company a buy rating in a report on Thursday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $82.60.
Shares of NYSE:ASH opened at $75.48 on Thursday. Ashland Global has a twelve month low of $38.88 and a twelve month high of $81.82. The firm has a market cap of $4.55 billion, a PE ratio of -42.89, a price-to-earnings-growth ratio of 2.76 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.06 and a current ratio of 1.78. The business has a fifty day moving average of $70.93 and a 200-day moving average of $66.29.
Ashland Global (NYSE:ASH) last announced its earnings results on Tuesday, July 28th. The basic materials company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.01). Ashland Global had a negative net margin of 4.39% and a positive return on equity of 4.79%. The business had revenue of $574.00 million during the quarter, compared to analyst estimates of $574.61 million. During the same quarter last year, the business posted $0.77 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, analysts anticipate that Ashland Global will post 2.54 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of ASH. Morgan Stanley boosted its holdings in Ashland Global by 725.0% during the first quarter. Morgan Stanley now owns 631,897 shares of the basic materials company’s stock worth $31,639,000 after buying an additional 555,300 shares during the last quarter. Norges Bank bought a new position in Ashland Global during the fourth quarter worth about $37,927,000. Invesco Ltd. boosted its holdings in Ashland Global by 601.3% during the first quarter. Invesco Ltd. now owns 562,187 shares of the basic materials company’s stock worth $28,149,000 after buying an additional 482,023 shares during the last quarter. Naya Capital Management UK Ltd. boosted its holdings in Ashland Global by 19.8% during the first quarter. Naya Capital Management UK Ltd. now owns 2,824,098 shares of the basic materials company’s stock worth $141,403,000 after buying an additional 466,628 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in Ashland Global by 22.4% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,207,397 shares of the basic materials company’s stock worth $110,524,000 after buying an additional 404,657 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
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